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Press watch: Twenty economists urge Osborne to drop the 50p tax rate

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‘George Osborne should drop the 50p top rate of income tax “at the earliest opportunity” to boost growth, according to 20 high-profile economists. “Only by returning to an internationally competitive tax regime will Britain enjoy long-term sustainable economic growth,” the economists write in a letter in the Financial Times ... The Chancellor of the Exchequer is already facing pressure from the Tory right and CBI employers’ organisation to scrap the “temporary” top tax rate.’

‘Government officials, however, have suggested that the top rate is unlikely to be scrapped until 2013 at the earliest, when a pay freeze affecting millions of public sector workers is due to be lifted.’

Financial Times, 7 September 2011